Impactful Money: Where you spend it

If you have ever tried to do a spend-free day, you will have a real appreciation for exactly how frequently we spend money. Taps here and clicks there define our days. With every tap and click we are having an impact on the world. Your money goes to a company, and that company uses it to pay their staff, grow their business and pay their suppliers. 

Here are 2 ways you can make sure that impact is a force for good.

1. Support sustainable businesses 

Every time you part with your hard earned cash you are acquiring a product or service, but you are also supporting that company and industry. We are becoming more responsible spenders. The rise of the reusable coffee mug, water bottle and straw are a clear statement of this. 

The recent Boohoo modern slavery scandal gave a harsh reminder that we should better understand the companies we buy from and, importantly, their supply chains. This isn’t always easy so here are some amazing businesses you may not have heard of that put sustainability first. 

Food

Malaysian food delivery - plastic free, ethical and authentic Malaysian food delivery

Mindful Chef - ethically sourced food delivery

Nit Wit - eco friendly, organic fashion brand 

Fashion

Origin - the UK’s first not for profit fashion brand

Rapanui - sustainable and circular economy fashion 

Accessories and homeware

Crafty Girl Collective - environmentally friendly, handmade homeware and accessories

Kind Jewels - ethical and responsibly sourced, handmade jewelleryundefined

The Good Aura Company - vegan candlesundefined

Damson and Vine - eco friendly florist 

2. Don’t waste 

The quickest and easiest way for you to have a positive impact on both the world around us and your own wallet is cutting back on waste. Far too often we buy things we don’t use or need, just to throw them away. 

Food is the classic - we buy more than we need or don’t use it in time and next thing we know we are chucking out a bag of perfectly good (but mouldy) carrots. Our resident foodie Amelia from @mimiskitchen has some great tips for minimising food waste when cooking for yourself - check out her latest blog here. 

Fast fashion is the next offender as the source of 92 million tonnes of waste every year. You aren’t saving money by buying 5 cheap New Look dresses that you wear once and throw out. Counter intuitive, perhaps, for a financial wellbeing blogger to say this but…spend a bit more money on items that last and do your bit to cut down the vast amount of waste produced by the fashion industry. 

My final comment on this is Christmas. Some of you may already be present planning (hopefully not too many of you, it’s August for crying out loud)! In the name of Christmas, we have normalised the process of spending large sums of money on presents that people don’t want or need. Exhibit A, your work secret santa. When was the last time you got a secret Santa gift that you actually used? She asks looking at the nerf gun she was given last year that is still sitting on the shelf in the box. If 100 people spend £10 per person on cheap tat, that’s £1,000 wasted. This year, why not do something different like donate money to charity in their name or buy them a lottery ticket?

Want to know more about the impact you’re having? Why not check out CoGo. This snazzy app connects to your bank to tell you your carbon footprint based on your spending!undefined